Business News | L&T Secures BESS Projects Worth Up to Rs 10,000 Crore in Middle East
Get latest articles and stories on Business at LatestLY. Larsen & Tubro has bagged another order in the Middle-East, worth up to Rs 10,000 crore, for a major client, as per an exchange filing.
New Delhi [India], August 25 (ANI): Larsen & Tubro has bagged another order in the Middle-East, worth up to Rs 10,000 crore, for a major client, as per an exchange filing.
According to the release, the company's renewable energy arm has secured a "major" order to develop three Battery Energy Storage System (BESS) projects with a combined storage capacity of 6 gigawatt-hours.
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Each project will feature a four-hour BESS system to store surplus renewable energy and dispatch it during peak demand to support grid stability. The systems will use liquid cooling technology for higher power density, improved safety and longer operating life, L&T noted.
"Such projects entail stringent requirements with respect to plant performance, workforce mobilisation, safety, quality and timeline. The order stands as a testament to the enduring trust and confidence that clients place in L&T, backed by proven engineering excellence and project management expertise," it said.
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Earlier on Monday, L&T announced, its EPC arm -- L&T Energy Hydrocarbon Onshore (LTEH Onshore), secured a gas compression facilities project for a major client in the Middle East.
As per an exchange filing, the project involves the EPC of gas compression plants, which further includes gas inlet facilities, gas compression systems, condensate and produced water handling systems, propane refrigeration systems and all related utilities. These facilities will be developed for new onshore installations to process sour gas in compliance with applicable client standards, codes and project requirements, as per the exchange filing.
"To meet the power requirements of the gas compression plants, L&T's Power Transmission & Distribution business will execute two 230 kV extra-high-voltage substations," the filing reads.
At the time of reporting, the stock was trading at around Rs 4108.35, up 23.05 points or 0.56 per cent against the previous close of Rs 4,085.30 per share. As of August 25, L&T's m-cap stood at Rs 5,65,480.96 crore, as per BSE. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)